For the past several weeks, we’ve examined many aspects of how digital disruption and other trends will impact the future of the insurance workforce. Today I’ll conclude the series with Accenture’s recommendations for adapting to those changes and successfully recreating the workforce.
In “Workforce Digital Transformation: Upcoming Challenges for HR,” Accenture identified five levers to sustain a “being digital” transformation for insurers. These are:
- Digital Leadership: Today’s insurance leaders must be “digital-aware” and have a clear understanding of digital opportunities and threats. Rather than viewing digital transformation as just another IT project, they should set a digital vision for the company, leveraging digital tools like real-time data and analytics to provide market insights, and enable fast and relevant response. Leaders also develop interactions with one or more ecosystems to leverage collective intelligence and spread the company image. They experiment and are open to failure, applying the “fail fast” principle.
- Digital Culture: The new digital culture requires leaders to rethink job designations and skill sets. New jobs like data scientist, storyteller, behavioral psychologist, algorithmic risk specialist, community advocacy builder, remote advisor and scrum master will take their place on the roster of insurer employment. These new jobs require new skills, such as community and device management, digital marketing, ecosystem management, and crowd-sourcing.
- Smart Working: The digital way of work presents a unique set of challenges in the areas of connecting, teaming, networking and sharing. Solutions could include introducing different models and approaches such as the collaboration governance model, collaboration process model, and creating incentives and recognition.
- Digital HR: With varying degrees of maturity, digital is being applied across all HR domains, including social networks, the cloud, mobility and the Web, and analytics and big data.
- Digital Governance: In order to keep track of and manage the digital workforce, insurers should apply digital governance methods, ranging from the basic (a “decentralized digital” option where digital priority is at an early stage) to the cutting-edge (a “center of excellence” option for coordinating business-unit digital strategy with the overall organization).
What is your business doing to adapt to the changes in the insurance workforce? Please contact me so we can share success stories in upcoming blog posts.
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